AGN Live Country Guides

Doing Business in France

Updated in March 2020

France is the world's seventh largest economy and is considered one of the most modern countries in the world. A leading country with high global influences, as the country is member of the United Nations Security, Council, NATO, the G-8, the G-20 amongst others.

Being at the heart of Europe, which is the largest market in the world, the country can offer good economic solutions to potential exporters.

With 66,993 million people and one main language, French, their GDP is worth 2772.947 billion US$ (2018), which represents 3,23% of the economy of the world. The GDP increased by 1.7% in 2018. France has signed agreements to address taxation with over 160 countries in the world.

The economy in France is diversified across many sectors. Tourism in France represents the third largest income in the world, the country is the most visited destination in the world. The government has privatized many large companies, while maintaining a strong presence in specific sectors such as power, public transport and defence industries. While capitalism is in full development in France, there are several social legislations and tax policies to mitigate the economic inequality.

Exports in 2018 were $869B (the 6th largest exporter in the world). The sectors that contribute the most to exports are industry (including automotive and textiles) and trade.
France is the 5th largest importer in the world ($890B). It mainly imports machinery, mineral products and transportation equipment.

Relationships with international businesses continue. In order to avoid the 'redundancy' risk of the use of static data about various countries, this portal incorporates various live data feeds from:
  • The Organisation for Economic Cooperation and Development (OECD)
  • The World Bank
  • The observatory of Economic Complexity

 

 

Use the navigations buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

OECD Country Comparison Portal

The window below is a direct feed of regularly updated information from the OECD. It provides data concerning everything from GDP growth, fiscal balance, investment, and unemployment rates to consumption, import volume and export volume. The window allows comparisons between France and other countries of the OECD average for these factors.

Inflation (CPI)

Total, Annual growth rate (%)

World Bank Development Indicators

The window below is a feed from the World Bank website and shows the primary World Bank collection of development indicators, compiled from officially-recognized international sources. It presents the most current and accurate Franceian and global development data available, and includes national, regional and global estimates. Amongst others it covers critical areas of Agriculture & Rural Development, Climate Change, Economy & Growth, Education, Energy & Mining, Environment, External Debt, Health, Infrastructure and Labor & Social Protection

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from France.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into France.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from France.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

Business Opportunities in Europe:

BIG TAX INCENTIVES TO LIVE, WORK AND INVEST IN ITALY! 
     (February 2020)

The Italian Government has introduced measures intended to encourage workers and entrepreneurs to move to, and invest in, Italy:
  • HIGH NET WORTH INDIVIDUALS – 100K€ LUMP SUM TAX 
  • SPECIAL TAX REGIME FOR WORKERS AND (INDIVIDUAL) ENTREPRENEURS TRANSFERRING THEIR RESIDENCE TO ITALY
  • 7% FLAT TAX FOR FOREIGN PENSIONERS TRANSFERRING THEIR RESIDENCE TO ITALY

For further information and take action, please contact us.

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BREXIT 3: AN UPDATE – WHERE TO NOW?       (December 2019)

The UK’s new Conservative-led government now has a clear parliamentary majority of 80 seats to enable it pass into law the Brexit Withdrawal Agreement (the ‘Deal’) by the deadline of the 30 January 2020.

So it would seem the election result has brought some clarity. Or has it?

On the 12 December 2019 the Conservative party won Britain’s General Election with a large majority and thus with it the power to fulfill their pledge to secure parliamentary approval of the Brexit Withdrawal Agreement by Christmas and leave the EU by 31 January 2020.

Despite the positive initial reactions of capital and currency markets, as well as they party’s election slogan “Get Brexit Done”, this isn’t the end of the matter. That is because the Withdrawal Agreement contains only the legalities around the divorce of Britain from the EU. It does not cover the future relationship.

So in fact, this is probably only the end of the beginning of the Brexit process. Prime-Minister Boris Johnson now has until December 2020 to agree a favorable forward-looking trade deal with the EU. Although he has until 30 June 2020 to ask for a further extension of Britain’s regulatory transition (standstill) period with the EU, Mr Johnson insists he will not ask for any extension. If a deal is not reached, Britain would then revert to World Trade Organisation tariffs and rules (i.e. a ‘No Deal’ or Hard Brexit).

Thus we are likely looking at another cliff edge deadline. Trade deals historically have taken years to deliver, but there are only some 6 months until the 30 June deadline. Perhaps because negotiations are not starting from scratch (it being a case of altering trade arrangements that are already in place) the PM must presumably be confident that a deal can be reached within this time, and is said to be looking as the so-called “Canada-plus” model.
Find AGN Firms prepared to serve you

BREXIT: UNCERTAINTY IS THE WATCHWORD, BUT INVESTMENT OPPORTUNITIES STILL EXIST!      (May 2019)

The Brexit leave date has come and gone and the future of the UK relationship with the EU is plagued with uncertainty which looks set to continue - but with a new deadline of Oct 31 2019.   

MORE OF THE SAME - WHAT TO SAY TO BUSINESS LEADERS? 

The UK Prime Minister's resignation only serves to confirm the now familiar message to business i.e. that they must continue to plan for uncertainty:
  • In the near term, consider exposure to possible disruptions in movement of good/services for both suppliers and customers, model scenarios of price changes (whether through logistical costs, tariffs & taxes or exchange rate movements) and consider if changes in mobility of people might impact the workforce or customer base.
  • Thereafter, think about scenarios for the possible opening up and closing down of opportunities in various markets, how the competitive landscape might alter and, perhaps in addition to planning for the downside, consider what upsides might present themselves?     
Find the firm best prepared to serve you

AGN Tax Publications:

TAX CARDS 2019

A summary of tax facts of countries in the EMEA region


Check how relevant taxes are regulated in several countries in Europe, Middle East and Africa. Updated in May 2019.

read full publication

AGN News:

February 2020

Press Release: London, UK Firm Joins AGN Membership




AGN International – one of the world’s leading associations of independent certified public accounting and consulting firms, announces that BKL has joined its membership in the UK. The London-based full-service firm was established in 1980 and has 15 partners and nearly 150 staff. BKL specialises in the financial services, technology & digital and property sectors, and high net worth individuals.

Read the Press Release

February 2020

Member News: Active-Audit Partner with SWIFT 




In November 2019, AGN EMEA member Active-Audit, based in Ukraine, became a partner of the international information transfer and payment system (SWIFT) under the Customer Security Program (CSP). Fighting fraud is a problem for the entire financial industry and SWIFT has developed a Client Protection Program (CSP) to support clients in the fight against cyber attacks.

Read the full article

AGN Firms in the country


France
BM&A Partners
11 rue de Laborde
75008 Paris
Time Zone:
Phone: +33 (0) 1 40 08 99 50
EMail: contact@bma-paris.com
BM&A Partners - Lyon
32, rue de la Republique
69002 Lyon
Time Zone:
Phone:
EMail: contact@bma-lyon.com
Caderas Martin S.A.
43, rue de Liege
75008 Paris
Time Zone: GMT +1
Phone: (+33 1) 44 90 25 25
EMail: contact@caderas-martin.com
GROUPE EXCEL France
Cabinet LMBH & Associés
5 rue de Magdebourg
75116 Paris
Time Zone: GMT+1
Phone: 0033 01 45 67 39 38
EMail: l.foucan@lmbh.fr